Jim Cramer highlighted that the Dow Jones Industrial Average fell 1.7% last week following the Federal Reserve's quarter-point interest rate hike, while the S&P 500 dropped 0.1% and the Nasdaq Composite rose 0.7%. He emphasized the importance of Okta's upcoming analyst meeting on Wednesday, where CEO Todd McKinnon will discuss the company's identity-security technology in relation to AI.
Cramer also noted that KB Home's earnings report on Tuesday is expected to reflect ongoing challenges in the housing sector due to tightening interest rates. Other companies reporting include Cintas and Paychex, which are likely to show resilience in the small and medium-sized business sector.
Cramer expressed caution regarding General Mills due to rising input costs and competition from weight-loss drugs. He remains optimistic about Darden Restaurants, particularly due to its strong execution, while preferring Brinker International for its growth potential. Finally, he will be watching Costco's report for insights on member retention among younger consumers